Spot gold reached a two-week low of $1,185.35 an ounce earlier today, and was last down 1.64% to $1,187.06 an ounce as of 2:01 p.m. ET today.
U.S. gold futures for June delivery was similarly down 1.51% to $1,185.80 an ounce as of 1:51 pm. ET.
The dollar is gaining following strong U.S. data and recent comments from Federal Reserve Chair Janet Yellen that interest rates will be raised this year, according to Reuters.
A stronger dollar makes gold more expensive for holders of other currencies, Reuters noted.
Data showed that U.S. business investment spending plans rose for a second straight month in April, Reuters added.
About 7.68 million shares have changed hands as of 2:04 p.m. ET today, compared to its average trading volume of about 7.37 million shares a day.
Canada-based Goldcorp is the world's biggest gold producer by market value, and is engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the U.S., Mexico and Central and South America.
Separately, TheStreet Ratings team rates GOLDCORP INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate GOLDCORP INC (GG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its unimpressive growth in net income, weak operating cash flow and generally disappointing historical performance in the stock itself."